A-7
BOROUGH OF SOMERVILLE
CURRENT FUND
TAXES RECEIVABLE AND ANALYSIS OF PROPERTY TAX LEVY
YEAR ENDED DECEMBER 31, 2022
On small screens, each year is shown as a separate card with its column headings.
| YEAR |
BALANCE DECEMBER 31, 2021 |
2022 LEVY |
ADDED TAXES |
COLLECTIONS |
STATE VETERANS' AND SENIOR CITIZENS' DEDUCTIONS |
TRANSFERRED TO TAX TITLE LIENS |
CANCELED |
BALANCE DECEMBER 31, 2022 |
|
|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2022 | ||||||||
| 2020 | $5,888.43 | $5,888.43 | |||||||
| 2021 | 493,703.62 | $48,116.66 | $541,820.28 | ||||||
| 2022 | $44,525,755.66 | 239,901.17 | $429,726.12 | 43,495,530.50 | $37,250.00 | $39,960.62 | 298,845.41 | $464,344.18 | |
| $499,592.05 | $44,525,755.66 | $288,017.83 | $429,726.12 | $44,037,350.78 | $37,250.00 | $39,960.62 | $304,733.84 | $464,344.18 | |
| REF. | A | A | A-4 | A-8 | A-7 | Reserve | A | ||
ANALYSIS OF 2022 PROPERTY TAX LEVY
| TAX YIELD | REF. | ||
|---|---|---|---|
| General Purpose Tax | $44,450,251.23 | ||
| Added Taxes (54:4-63.1 et. seq.) | 75,504.43 | ||
| $44,525,755.66 |
| Tax Levy | |||
|---|---|---|---|
| Local District School Tax | A-12 | $25,329,760.00 | |
| Special District Taxes | A-12 | 771,309.36 | |
| County Tax | A-12 | 5,381,850.80 | |
| County Added and Omitted | A-12 | 7,997.95 | |
| $31,490,918.11 | |||
| Local Taxes: | |||
| Taxes | A-2 | 12,967,331.07 | |
| Added Taxes | 67,506.48 | ||
| 13,034,837.55 | |||
| $44,525,755.66 | |||
| Prepaid Taxes | REF. | |
|---|---|---|
| A-4 | $253,188.05 | |
| Prepaid Taxes - December 31, 2022 | A | $253,188.05 |
| Tax Title Lien Activity | ||
|---|---|---|
| Tax Title Lien Balance - December 31, 2021 | A | $376,792.52 |
| Transferred from Taxes Receivable | A-7 | 39,960.62 |
| Adjustments | Res. | (29,630.66) |
| Tax Title Lien Balance - December 31, 2022 | A | $387,122.48 |
| Current Year Tax Collections: | ||
|---|---|---|
| N.J. Senior Cit. & Vets | A-2 | $37,250.00 |
| Prepaid Taxes -2022 | A-2 | 429,726.12 |
| Current Year Collections | A-2 | 43,495,530.50 |
| A-1 | $43,962,506.62 | |
| Delinquent Collections: | ||
|---|---|---|
| Prior Year Taxes | A-1, A-2 | $541,820.28 |